Inceptionr LLC Takes Position in SkyWest, Inc. (NASDAQ:SKYW)

Inceptionr LLC purchased a new position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,625 shares of the transportation company's stock, valued at approximately $463,000.

Several other institutional investors have also added to or reduced their stakes in SKYW. Wilmington Savings Fund Society FSB purchased a new position in shares of SkyWest in the third quarter worth about $31,000. Private Trust Co. NA grew its position in SkyWest by 157.1% during the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company's stock worth $49,000 after acquiring an additional 300 shares during the last quarter. Sound Income Strategies LLC purchased a new position in SkyWest in the 4th quarter worth approximately $50,000. Jones Financial Companies Lllp lifted its position in SkyWest by 117.2% in the fourth quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock valued at $83,000 after purchasing an additional 449 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of SkyWest by 193.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company's stock valued at $87,000 after purchasing an additional 569 shares during the period. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group reiterated a "neutral" rating and set a $119.00 price target on shares of SkyWest in a report on Friday, November 15th. Raymond James restated an "outperform" rating and set a $130.00 price target (up previously from $120.00) on shares of SkyWest in a report on Friday, January 31st.

Remove Ads

Insiders Place Their Bets

In related news, VP Greg Wooley sold 14,545 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.73, for a total value of $1,537,842.85. Following the transaction, the vice president now directly owns 68,737 shares of the company's stock, valued at approximately $7,267,563.01. This represents a 17.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert J. Simmons sold 6,000 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $113.57, for a total value of $681,420.00. Following the completion of the transaction, the chief financial officer now owns 175,067 shares of the company's stock, valued at $19,882,359.19. This represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company's stock.

SkyWest Stock Down 0.6 %

SkyWest stock traded down $0.49 on Wednesday, hitting $82.99. 601,659 shares of the stock traded hands, compared to its average volume of 444,430. The business's fifty day simple moving average is $106.33 and its 200 day simple moving average is $99.35. The firm has a market cap of $3.35 billion, a P/E ratio of 10.68 and a beta of 2.00. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. SkyWest, Inc. has a 1 year low of $64.30 and a 1 year high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.59. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. During the same period in the previous year, the firm earned $0.42 EPS. As a group, sell-side analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current year.

About SkyWest

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest's airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.